Section 111 - Tax on accumulated balance of recognised provident fund - Income-tax Act, 1961

Tax on accumulated balance of recognised provident fund. 111. (1) Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income, owing to the provisions of rule 8 of Part A of the Fourth Schedule not being applicable, the 1 [ Assessing ] Officer shall calculate the total of the various sums of 2 [ tax ] in accordance with the provisions of sub-rule (1) of rule 9 thereof. (2) Where the accumulated balance due to an employee participating in a recognised provident fund which is not included in his total income under the provisions of rule 8 of Part A of the Fourth Schedule becomes payable, super-tax shall be calculated in the manner provided in sub-rule (2) of rule 9 thereof. -------------------------------- Notes :- 1. Substituted for Income-tax by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 2. Substituted for income-tax and super tax by the Finance Act, 1965, w.e.f. 1-4-1965.